December 15, 2017 / 4:08 PM / a year ago

Russia's Promsvyazbank needs 100-200 bln roubles in bailout - cenbank

MOSCOW, Dec 15 (Reuters) - Promsvyazbank, one of the largest private banks in Russia, will require between 100 billion roubles and 200 billion roubles ($1.7-$3.40 billion) as part of a central bank rescue, central bank deputy governor Vasily Pozdyshev said on Friday.

Pozdyshev told a briefing that the size of the rescue could be closer to the lower end of the range if the central bank goes ahead with writing off Promsvyazbank subordinated debt. Pozdyshev estimated the amount of subordinated debt at 100 billion roubles.

He said loans issued by Promsvyazbank to the bank’s owners exceeded the amount of the lender’s capital and were estimated by the central bank at over 150 billion roubles. ($1 = 58.7806 roubles) (Reporting by Tatiana Voronova and Katya Golubkova)

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